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Lucid CEO Peter Rawlinson explains his compensation plan

Credit: Lucid Motors/Twitter

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Lucid CEO Peter Rawlinson explained his compensation plan during the luxury electric car maker’s Q4 2023 earnings call. Rawlinson’s comments came amidst criticisms that his compensation plan is notably large, even if Lucid is still yet to make a breakthrough in its vehicle production and sales. For context, Lucid posted revenue of $157.2 million and a net loss of $653.8 million in Q4 2023

Previous reports have noted that the Lucid CEO is very well paid compared to other chief executives in the auto sector. As noted in a Benzinga report, Rawlinson’s compensation in 2022 reached $379 million, which is quite interesting considering GM CEO Mary Barra had a total compensation of $34 million in 2022, and Ford CEO Jim Farley had a total compensation of $18 million during the same year. 

And in a recent 8-K filing, Lucid’s Board members noted that they approved a $6 million cash bonus to the CEO. The Board noted that the bonus was to recognize Rawlinson’s contributions to the unveiling of the Lucid Gravity, the luxury EV maker’s upcoming SUV. Thus, it was no surprise that during the Q4 2023 earnings call, Rawlinson was asked if he was willing to take a pay cut to reduce the company’s losses — or at least if there are plans to buy back shares to improve the health of Lucid stock. 

Lucid CEO Peter Rawlinson’s response to the question was as follows. 

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“Many may not be aware of my founding role in this company as we know it today. I joined the company around 11 years ago, with a clear goal of making the very best electric vehicle and to drive a revolution towards sustainable transportation, which is going to benefit everyone in the planet…

“So in 2021, I received a onetime CEO stock grant, and this was solely determined and approved by the Board of Directors. And a significant portion of that vested due to the company achieving certain market capitalization milestones as we publicly disclosed in 2023. So I think there’s a huge misperception that this onetime grant was received as a salary and somehow we replicate it as my salary in the future.

“In fact, in 2023, at my request, I did not receive a bonus for 2022, nor did I receive any further equity grants in ’22 or ’23. And I just want to assure you, my mission and my dedication is still unwavering. I have not sold a single share of stock in all this time, over 10 years, except what was absolutely necessary for tax purposes. And the company stock I received from the grant remains in the form of company stock. And so I am also directly tied, personally tied, directly and hugely to the company’s performance as a key shareholder.

“And so I’m incentivized that way. My promise is to continue to work tirelessly, day and night, to drive brand awareness, to deliver more cars, to sign up more technology licensing and access agreements, to drive down costs and to bring the Gravity and midsized platform to market. We have an incredible team. We’re driving forward, and I’m incredibly excited about our products and moreover, our future,” Rawlinson said

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Lucid interim CFO Gagan Dhingra also addressed the second part of the question. 

“Regarding the second part of the question, we are investing in our future, but we are a growth company. We are also a technology company. and I believe our investments into areas such as our research and development is an advantage and give us the opportunity for higher returns than any other automotive company because we are monetizing the intellectual property through agreements such as the one with Aston Martin. 

“When we feel we can’t increase value from reinvesting back into the business, we would consider returning the cash to shareholders via a repurchase program. But we don’t believe this would happen for quite some time,” the interim CFO said. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla Full Self-Driving gains momentum in Europe with new country mulling approval

Tesla is advancing FSD’s technology across Europe with fresh talks underway in Ireland, signaling broader regulatory progress. On May 10, Ireland’s Department of Transport confirmed that Tesla is actively engaging with national authorities, including the National Standards Authority of Ireland (NSAI) to secure approval for FSD Supervised.

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Credit: Tesla Europe & Middle East | X

Tesla Full Self Driving (FSD) technology is gaining momentum in Europe, with yet another new country mulling a potential approval for operation on its roads.

Tesla is advancing FSD’s technology across Europe with fresh talks underway in Ireland, signaling broader regulatory progress. On May 10, Ireland’s Department of Transport confirmed that Tesla is actively engaging with national authorities, including the National Standards Authority of Ireland (NSAI) to secure approval for FSD Supervised.

While the department noted that full rollout in Ireland would ultimately depend on EU-level clearance, the engagement marks a notable step forward in Tesla’s European expansion strategy, Irish media outlet RTE said.

Tesla FSD in Europe vs. US: It’s not what you think

The news comes on the heels of a landmark breakthrough in the Netherlands. In April, Dutch vehicle authority RDW granted the first-ever EU type approval for FSD Supervised after 18 months of rigorous testing on public roads and tracks. The provisional approval allows the system on all Dutch roads, with Tesla already rolling it out to select owners following mandatory safety training.

The Netherlands has since notified the European Commission and is advocating for wider recognition, positioning the Dutch decision as a potential template for the bloc.

Europe has long lagged behind the United States, China, and other markets where FSD is more widely available. Strict EU regulations on automated driving systems have required extensive validation, but momentum is building.

Tesla now lists the Netherlands alongside established markets such as the U.S., Canada, Australia, and South Korea on its regional FSD page. Other countries, including Belgium, are reportedly fast-tracking their own review processes in response to the Dutch precedent.

Analysts see Ireland’s involvement as strategic. As a smaller EU member with unique road challenges—narrow rural lanes, hedgerows, and variable weather—successful validation there could demonstrate FSD’s adaptability and strengthen the case for harmonized EU approval.

Tesla has indicated it aims for broader EU deployment as early as summer 2026, though the timeline remains fluid. Discussions at the EU’s Technical Committee on Motor Vehicles continue, with a possible vote later in the year. Some member states, particularly in Scandinavia, have expressed reservations over edge cases like speeding protocols and long-term safety data.

For Tesla, European expansion is more than a software update; it unlocks significant growth. The continent’s dense population and high vehicle ownership could accelerate data collection, refine the AI models powering FSD, and pave the way for unsupervised autonomy and robotaxi services.

Owners stand to benefit from enhanced safety features and reduced driver fatigue, while regulators weigh innovation against proven risk reduction. Early Dutch results already cite safety improvements:

Tesla Full Self-Driving shows stunning maneuver in Europe to silence skeptics

But the work is far from done, and challenges are still present. FSD Supervised still requires driver attention and a readiness to intervene. EU rules emphasize that the technology is not fully autonomous, placing legal responsibility on the human operator. Tesla must also navigate varying national road conditions and public perception.

Nevertheless, the Ireland talks underscore a clear trajectory: one national approval at a time, Europe is inching closer to widespread FSD access. If the Dutch model gains traction, Summer 2026 could mark the beginning of a transformative chapter for autonomous driving on European roads.

Tesla’s persistent engagement with regulators is starting to pay off, and it suggests the company is still heavily committed to the expansion efforts across Europe, despite the red tape it has had to persist through.

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Tesla Semi gets strange-but-understandable comparison from Jay Leno

In a recent interview with MotorTrend, legendary comedian and automotive enthusiast Jay Leno shared his impressions after driving Tesla’s long-range Semi truck, offering one of the most vivid descriptions to date:

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Credit: Jay Leno's Garage

The Tesla Semi recently received a strange-but-understandable comparison from automotive enthusiast and former long-time late-night television show host Jay Leno.

In a recent interview with MotorTrend, legendary comedian and automotive enthusiast Jay Leno shared his impressions after driving Tesla’s long-range Semi truck, offering one of the most vivid descriptions to date:

“It’s like driving an office building.”

The comparison may seem quirky—office buildings evoke images of immobility rather than motion—but it aptly conveys the experience of commanding a massive 23,000-pound Class 8 electric truck that delivers sports-car acceleration.

Lenotested the production-spec Long Range model, which is rated for up to 500 miles of range. He was visibly impressed by its performance, noting how the enormous vehicle moves with surprising urgency.

“It’s as fast as a Tesla, but it’s like driving an office building,” he remarked. “It’s this huge thing that moves like right now. You go 500 miles. You get 60% charge in 30 minutes. You’re saving on fuel costs. It seems quite good.”

The reaction highlights the cognitive dissonance at the core of the Tesla Semi. Traditional diesel semi-trucks are slow, noisy, and expensive to run. The Semi rewrites the rules with instant torque from its tri-motor electric powertrain, producing up to 800 kW.

Despite its size, the truck feels agile thanks to full electric steering assist, upgraded actuators borrowed from the Cybertruck, and a 48-volt electrical architecture that improves responsiveness and efficiency.

Tesla reports real-world energy consumption below 1.7 kWh per mile for the Long Range version. Megacharger stations can deliver a 60% charge in roughly 30 minutes, making the truck suitable for long-haul operations.

Additional features include an electric Power Take-Off (ePTO) capable of 25 kW for trailer refrigeration or other equipment, and a driver-focused cab with a central seating position for optimal visibility and a quiet, high-tech interior.

Fleet operators stand to benefit significantly from the economics. Diesel trucks often cost nearly one dollar per mile when including fuel, maintenance, and downtime.

Tesla projects the Semi can reduce operating costs to as low as 15 cents per mile through cheaper electricity, regenerative braking that minimizes brake wear, and reduced service requirements. While early deployments, like Pepsi’s, focused on shorter routes, the 500-mile variant targets cross-country applications.

Obstacles remain. A fully loaded tractor-trailer can reach 80,000 pounds, which reduces real-world range compared to the unloaded test conditions. Building out a nationwide Megacharger network will be essential for broader adoption. The Semi also carries a higher upfront price than conventional diesels, though total cost of ownership and available incentives frequently tip the scales in its favor over time.

Tesla Semi hauls fresh Cybercab batch as Robotaxi era takes hold

Leno’s “office building” description resonates because it captures the unexpected thrill of piloting something so large yet so capable. As the trucking industry faces pressure to cut emissions and control rising fuel expenses, the Semi offers a compelling alternative that excels in performance, comfort, and efficiency.

Coming from a man who has driven everything from vintage classics to modern hypercars, Leno’s genuine enthusiasm adds weight to the verdict.

The Tesla Semi is emerging as more than an experimental EV—it represents a practical vision for the future of heavy-duty transport where massive rigs accelerate instantly, and the numbers finally make sense. If fleet results continue to validate the claims, the era of diesel dominance could be drawing to a close.

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Tesla expands its mass-market color palette in the U.S.

Delivering a fresh splash of color to its lineup, Tesla is giving U.S. buyers two stunning new blue options that are already turning heads.

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Credit: Brand0n | X

Tesla has expanded the color palette it offers on its mass market vehicles in the United States, giving buyers of the Model 3 and Model Y a few additional options than before.

Delivering a fresh splash of color to its lineup, Tesla is giving U.S. buyers two stunning new blue options that are already turning heads. Starting on May 8, the automaker updated its North American configurator to introduce Marine Blue on Model Y Premium trims and Frost Blue exclusively on the Model 3 Performance.

The move replaces the long-running Deep Blue Metallic, a staple for over eight years, and brings previously exclusive shades stateside.

Marine Blue, a deep, rich oceanic hue formerly limited to Europe and Asia-Pacific markets, is now available on Model 3 and Model Y RWD and Long Range AWD Premium variants. Priced at a $1,000 upgrade—standard for Tesla’s premium paints—it delivers a sophisticated, metallic finish that shifts beautifully under light.

Tesla North America highlighted the change directly in an official post, confirming Marine Blue as the new flagship blue for non-Performance models.

Frost Blue, on the other hand, is the real crowd-pleaser for enthusiasts. Previously reserved for the flagship Model S and Model X, this lighter, icy metallic shade is now offered at no extra cost on Model 3 Performance and Model Y Performance trims.

Performance buyers effectively get a premium color included in the base price, a smart perk that Tesla has extended to higher-end variants across the board. Early in-person sightings and configurator renders show Frost Blue’s cool, modern vibe popping against the cars’ sleek lines, especially with black wheels and red brake calipers.

The timing couldn’t be better. With Tesla pushing refreshed Model 3 and Model Y refreshes amid growing competition, these updates add visual excitement without major redesigns.

Deep Blue Metallic orders are being transitioned to the new shades, according to customer reports and Tesla communications. In the U.S., Puerto Rico, and Mexico, the options are live now; Canada sees limited Frost Blue availability on the Model 3 Performance.

Tesla’s color strategy continues to evolve, borrowing from higher-end models to refresh mass-market EVs. Now that we bid farewell to the Model S and Model X, some of their colors might be available on the more widely available Model 3 and Model Y.

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